Thu, 01/14/2021 - 12:18pm
The State of Alaska’s North Slope oil and gas lease sale netted only about half of the bid revenue that the Bureau of Land Management’s sealed bid auction for the Arctic National Wildlife Refuge coastal plain did, but interest from industry was still far greater.
The Division of Oil and Gas collected approximately $7 million across 115 bids from five companies, officials announced Wednesday afternoon following the morning bid opening.
The state’s North Slope and Beaufort Sea lease sales are traditionally a minor annual event with a small audience of industry representatives, reporters and others present to watch the bid opening. COVID-19 precautions prevented that this year.